Simple ways to start a business now - Yuliaivanova Nacue

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Simple ways to start a business now - Yuliaivanova Nacue
Part of Enterprise Week 2010

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Simple ways to start a business now - Yuliaivanova Nacue

  1. 1. Starting Your Own Business 101
  2. 2. YULIA IVANOVA NACUE
  3. 3. A National Network of Young Entrepreneurs, that: Educates Empowers Connects Represents
  4. 4. info@nacue.com +44 7801 994 941 www.nacue.com Facebook.com/nacue Nacue.wordpress.com Twitter.com/nacue
  5. 5. The Bigger Picture Look around you – things ARE changing! • Employment Issues • Tuition Fees Going Up • Big Society • Knowledge Economy • Changing Nature of Work • Decade of the Entrepreneur
  6. 6. ARE YOU ENTERPRISING? • Have you ever taken initiative? • Have you ever taken a risk? • Have you ever had a wild idea and ran with it? • Have you ever pitched? • Have you ever seen an opportunity and grabbed it? • DO YOU WANT MORE?
  7. 7. STEP 1 - IDEAS TO REALITY GREAT IDEAS are not always GREAT BUSINESSES • Market Demand • Competitive Advantage • Sustainability • Dream Team • The Network
  8. 8. Things that make you go HMMMM…
  9. 9. SquidLondon SquidLondon specialises in product design and development. Co-founders Emma-Jayne and Viviane met at the London College of Fashion on a joint project. Both passionate about smart materials and interactive inks they spent their final year working with an ink company printing and developing many ideas. The first product Squid launched onto the market is the famous ‘Squidarella; a walking piece of art’…an umbrella that changes colour in the rain! Squid’s customers include TATE who commissioned them to design and develop an exclusive umbrella, Museum of Modern Art New York, Saatchi Gallery and Art Basel Switzerland. In 2010 they won the ‘People’s Choice’ Award at NVPC SquidLondon’s goal is to continue designing and developing products to create the ultimate Squid product range.
  10. 10. BUSINESS PLAN 101 Business Plan is a MAP for you to get to the end point – SUCCESS! • Keeps you focused • Allows you to see challenges in advance • Creates a “package” • Helps you to define the opportunity • Makes you think about the structure and the team
  11. 11. BUSINESS PLAN 101 1. Summary 2. Business – What’s the idea? Why is it a great idea? Is it protected? 3. Market – How will you get in? Who else is there? Who will you sell to? How will you sell it to them? 4. Team – Who are you? Why are you awesome as individuals? Why are you great as a team? Do you have advisors? 5. Operations – How will this happen? Where are you based? What is the process? What materials will you need? 6. Finances – How much does it cost to run? How much will you charge? How much will you make in profit? Is there a growth opportunity? Where will get funding?
  12. 12. BUSINESS PLAN 101 Spider Diagrams Post-it notes Toilet Rolls Jenga Cue cards WHATEVER WORKS FOR YOU!
  13. 13. BUSINESS PLAN 101 BE Creative! Who is your audience? What is the purpose of the plan? What do YOU need in the plan? What should you showcase?
  14. 14. Your product or service • What do you do better than anyone else? • What do you produce? • What value does it add to the “customer”? • What is unique about your work? • Why is this something your customer NEEDS in their life?
  15. 15. Running a Business on a Shoestring Sponsors Investors Grants Competitions Funding Sales Barter F, F, F
  16. 16. Running a Business on a Shoestring • LEAN operations: cut the crap! • Make use of new technologies • Leverage your networks • Friendships as cloud computing • Pitch wherever you go • He who does doesn’t play – doesn’t win • Collaboration > competition
  17. 17. Know Your Market • Who are they? • How do they spend their day? • What do they do for fun? • What do they read? • What do they watch? • Where do they hang out? • What do they like? • What do they WANT?
  18. 18. Know Your Market • British Library Business and IP Centre Events Library Resources Online Resources • First-hand research Trial a webpage Survey Monkey questionnaires 10 min • Keep your eyes open! Trendhunter.com Alltop.com
  19. 19. Reach Your Market “If you build it – they will come” Or will they? • The power of personal branding • Social Media (Facebook, Twitter, LinkedIn, Flickr) • Word of mouth – marketing through conversations • Videos (Youtube, Vimeo, Winkball) • Added Value ( Blogging, Consultations) • Events, Shows, Parties, Networking BE visible, seize every opportunity!
  20. 20. Think small
  21. 21. Think BIG
  22. 22. Think Different
  23. 23. Sell, Sell, Sell! • Turning Suspects into Evangelists • A sale is NOT complete until you get paid • Position yourself in the MIND of the customer • Be honest • Sell the relationship • Ask questions • Ask for referrals • Start early!
  24. 24. The Dream Team • Essential Skills • Connections • Advisors • Mentors • Associates • Partners
  25. 25. Protecting Your Ideas • Non – Disclosure agreements • Trademarking and copyrights • Patents • Open Source • Contracts for Sales, Freelancers DO NOT OVER PROTECT YOUR IDEA!
  26. 26. www.businesslink.gov.uk www.bytestart.co.uk www.bl.uk/bipc www.ecca-london.org www.nesta.org.uk www.lucidry.org www.Knowledge.hsbc.co.uk USEFUL LINKS www.ipo.gov.uk www.studentcompetitions.com www.eportal.nacue.com www.unltd.org.uk www.smarta.com www.shell-livewire.org www.bis.gov.uk www.direct.gov.uk

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